The VCSEL (Vertical-cavity Surface-emitting Laser) market is set to witness steady growth during 2021-2031. One of the major growth drivers for the VCSEL market happens to be the growing adoption of 3D sensing applications in smartphones coupled with rising in market investment for VCSEL manufacturing. Furthermore, due to increasing applications in in-cabin monitoring and LiDAR, the automotive industry offers substantial growth opportunities for VCSEL suppliers.
What is Driving Demand for VCSEL?
Major factors driving the growth of VCSELs happen to be the increasing 3D sensing applications in smartphones. 3D camera sensing makes use of a dot projector, flood illuminator, and proximity sensor which are all based on laser components of VCSEL. Hence, the increasing implementation of 3D sensing applications in smartphones is fueling the market growth.
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Moreover, VCSELs offer numerous advantages, such as optical efficiency, relatively low cost, wavelength stability, low power consumption, and higher modulating rates. Such factors have resulted in an upsurge in the adoption of VCSELs in 3D sensing applications in the market.
Multimode is Expected to Grow at the Highest CAGR in the VCSEL market by Type
The multimode VCSEL segment is anticipated to grow at a higher CAGR over the forecast period. Multimode VCSELs are primarily being used for 3D sensing applications. Moreover, multimode VCSELs are capable of offering higher data transmission rates over short reach as more than one optical mode is permitted inside the laser cavity.
Owing to their flexibility and wider application areas, the market for multimode type VCSEL is anticipated to hold the largest market share. Multimode VCSELs are also projected to grow at a significant CAGR owing to major applications in data centers and consumer electronics across the globe.
US and Canada VCSEL Demand Outlook
U.S. happens to be one of the major markets for VCSEL across the globe. The growth in U.S. is attributed to the presence of established players such as Lumentum, Broadcom, Coherent, FLIR, NeoPhotonics, Lytek Corporation, Leonardo Electronics, Ushio America, and Thorlabs, among others in the region.
Moreover, US happens to be one of the most competitive and rapidly changing markets across the globe. Besides, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries in the world.
Europe Demand Outlook for VCSEL
Technological advancements in consumer electronic products, such as tablets and smartphones, have significantly augmented the demand for VCSELs across sensing applications.
Furthermore, VCSELs offer better optical competency than any other semiconductor materials and at affordable cost. Owing to this, there has been a rise in demand for VCSELs across different application areas in the Europe region.
Who are the Key Manufacturers and Suppliers of VCSEL?
Some of the leading providers of VCSEL include
- Lumentum
- II-VI Incorporated
- ams
- TRUMPF
- Broadcom
- Vertilite
- Coherent
- Alight Technologies
- Connector Optics
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VCSEL Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Key Segments
By Type:
- Single-Mode
- Multimode
By Material:
- Gallium Arsenide (GaAs)
- Indium Phosphide (InP)
- Others
By Wavelength:
- Red
- Near-Infrared (NIR)
- Shortwave Infrared (SWIR)
By Sensing:
- Sensing
- Data Communication
- Industrial Heating & Laser Printing
- Emerging & Other Applications
By Industry:
- Consumer Electronics
- Data Center
- Automotive
- Commercial & Industrial
- Healthcare
- Military
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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